Intercept Pharmaceuticals (ICPT) Raised to Strong-Buy at BidaskClub

Intercept Pharmaceuticals (NASDAQ:ICPT) was upgraded by BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued on Wednesday.

Several other analysts have also recently commented on the stock. ValuEngine upgraded shares of Intercept Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Wednesday, April 4th. Wedbush dropped their target price on shares of Intercept Pharmaceuticals from $203.00 to $256.00 and set an “outperform” rating for the company in a research report on Tuesday, April 17th. Oppenheimer reiterated a “hold” rating on shares of Intercept Pharmaceuticals in a research report on Tuesday, March 20th. Needham & Company LLC reiterated a “hold” rating on shares of Intercept Pharmaceuticals in a research report on Wednesday, March 28th. Finally, Cantor Fitzgerald reissued a “hold” rating and issued a $58.00 price target on shares of Intercept Pharmaceuticals in a report on Tuesday, May 8th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. Intercept Pharmaceuticals currently has an average rating of “Hold” and a consensus price target of $124.90.

Shares of Intercept Pharmaceuticals opened at $89.88 on Wednesday, MarketBeat Ratings reports. Intercept Pharmaceuticals has a 52 week low of $51.05 and a 52 week high of $135.59. The company has a debt-to-equity ratio of -6.88, a quick ratio of 4.58 and a current ratio of 4.58.

Intercept Pharmaceuticals (NASDAQ:ICPT) last issued its earnings results on Tuesday, May 8th. The biopharmaceutical company reported ($3.22) EPS for the quarter, beating the consensus estimate of ($3.41) by $0.19. The company had revenue of $35.96 million during the quarter, compared to analysts’ expectations of $38.44 million. Intercept Pharmaceuticals had a negative net margin of 241.33% and a negative return on equity of 573.64%. The business’s revenue for the quarter was up 70.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($3.61) EPS. research analysts expect that Intercept Pharmaceuticals will post -11.33 EPS for the current year.

In related news, major shareholder Francesco Micheli bought 390,625 shares of Intercept Pharmaceuticals stock in a transaction that occurred on Monday, April 9th. The stock was purchased at an average cost of $64.00 per share, with a total value of $25,000,000.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Mark Pruzanski bought 7,812 shares of Intercept Pharmaceuticals stock in a transaction that occurred on Monday, April 9th. The stock was bought at an average cost of $64.00 per share, with a total value of $499,968.00. Following the completion of the purchase, the chief executive officer now owns 11,642 shares in the company, valued at approximately $745,088. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 399,608 shares of company stock valued at $25,574,912. Company insiders own 4.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Millennium Management LLC boosted its stake in Intercept Pharmaceuticals by 168.9% in the 1st quarter. Millennium Management LLC now owns 235,180 shares of the biopharmaceutical company’s stock worth $14,468,000 after purchasing an additional 147,719 shares during the period. Opus Point Partners Management LLC boosted its stake in Intercept Pharmaceuticals by 19.0% in the 1st quarter. Opus Point Partners Management LLC now owns 4,496 shares of the biopharmaceutical company’s stock worth $277,000 after purchasing an additional 717 shares during the period. Point72 Asset Management L.P. boosted its stake in Intercept Pharmaceuticals by 925.1% in the 1st quarter. Point72 Asset Management L.P. now owns 281,900 shares of the biopharmaceutical company’s stock worth $17,342,000 after purchasing an additional 254,400 shares during the period. Scopia Capital Management LP acquired a new position in Intercept Pharmaceuticals in the 1st quarter worth $3,996,000. Finally, Ladenburg Thalmann Financial Services Inc. boosted its stake in Intercept Pharmaceuticals by 156.0% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 16,422 shares of the biopharmaceutical company’s stock worth $1,010,000 after purchasing an additional 10,007 shares during the period. 66.28% of the stock is owned by hedge funds and other institutional investors.

Intercept Pharmaceuticals Company Profile

Intercept Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics in the United States, Europe, and Canada. Its lead product candidate is obeticholic acid (OCA), a bile acid analog, which has a structure based on a naturally occurring human bile acid that selectively binds to and activates the farnesoid X receptor (FXR).

Analyst Recommendations for Intercept Pharmaceuticals (NASDAQ:ICPT)

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